To negotiate or not to negotiate, that is the question. As much as you were excited to hear the words, "Congratulations, you got the job!" you wonder, is it safe to negotiate or should you just accept the offer? This can be a difficult question to answer. After all, the economy is pretty tough right now and you might not have the luxury of multiple offers from which to choose. However, you have nothing to lose by having the discussion. Although the job market might be tight, there are still job offers being made. So here are some of the basics to consider when negotiating an offer.
What's the Figure?
Once you've heard the magic words, "You're hired," you should have been given a salary figure. If the offer is given to you by phone, don't negotiate yet, just ask to get the quote in writing. Human Resources should send you a letter within a few days outlining the salary and benefits of the position (make sure the exact job title is listed on the letter as well), along with a start date.
Step One: Know Your Worth
In addition to gathering information, you need to strategize the upcoming negotiation process. Aside from being armed with salary statistics, you will need to justify why you deserve a higher salary. What do you have to offer an employer? What skills have you acquired from past experience from internships, co-ops, and school activities? Is your area of study (research) of particular interest to this company? Knowing your strengths and what you have to offer will be your major line of defense.
Step Two: Start the Negotiation Process
Once you have this information in hand, you are ready to start the process of ne gotiating. Never negotiate with a recruiter or Human Resources; it should always be done with your future boss. The number one rule in salary negotiation is you should not be giving the figure. Have your "magic figure" in your head based on your research, but don't give that number out. Consider starting with the statement, "Could you tell me what the salary figure is based upon?" If the response sounds similar to, "Well, all of our Engineer 1s start at this figure,"
Step Three: Consider Topics Other Than Salary
Salary is not the only bargaining point. If you can't budge your future employer on increasing your salary, perhaps there are other topics to consider. Gone are the days of huge signing bonuses but maybe this can be an option. However, keep in mind that with bonuses, 50% is usually taken by the U.S. government. Does the company require a lot of overtime with no monetary compensation? See if they will consider giving you an extra day off over and above what is offered for vacation. What is their relocation policy? If they give you a flat sum, possibly you can find the cheapest way to move and pocket the residual money
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